The BBC is not allowed to give away cash prizes due to its public funding.
You may have noticed competition shows on the BBC don't have the same payoff as those on other channels. Mastermind and University Challenge only award their champions a perspex trophy as did The Great British Bake Off when it was housed with the broadcaster.
The US version of RuPaul's Drag Race even awarded the winner with $100,000 but the British equivalent only receives badges at best. Viewers have often questioned why this is but the reason is in strong relation to the public watching.
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Because the BBC is funded through license fees and public money, it cannot justify giving away hundreds of thousands of pounds in cash prizes or gifts. The broadcaster also said that no programme on a BBC public-funded service is allowed to be sponsored.
The likes of ITV and Channel 4 award their winners with hefty prizes including vacations, cars and more, typically seen on the likes of Ant and Dec's Saturday Night Takeaway. As these broadcasters receive revenue from private companies and sponsors, they are able to award their contestants however they see fit.
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